But that doesn't mean it's yesterday's news. Everyday, there is news regarding the perils and weaknesses of the old-fashioned, inept and obviously obsolete practice of "typing" user name and password log-in details into a graphical user interface on an online banking
The following excerpt is from today's Sky News: website.
Online banking fraud has jumped by more than a half over the past year amid fears that Britain is becoming a soft touch for internet crooks.
Conmen are finding new ways to steal banking passwords
The cost of the crime rose to a record £39m for the first half of this year - a 55% increase on the same period in 2008, according to industry body Financial Fraud Action UK.
Experts blamed the hike on fraudsters using increasingly sophisticated methods to get their hands on customers' cash, rather than weaknesses in the banks' own online systems.
Methods include targeting online bankers through malware scams, where customers' computers are infected with a Trojan virus, which logs their keystrokes, including passwords and personal data. There were also more than 26,000 phishing incidents during the same period - a 26% increase on the first six months of last year.
- Shadow home affairs minister James Brokenshire said: "These figures underline the growing threat from online crime.
- "Unless more concerted action is taken, consumer confidence in the internet will be damaged with significant implications for business
- "We need a strong coordinated approach to prevent more people falling victim to computer crime." Editor's Note: How about providing a log-in procedure that 100% replicates the same way banks trust consumers to access cash in real time at an ATM?
Advice about preventing online banking fraud: www.banksafeonline.org.uk
P.S. Don't bother. They probably tell you to use updated anti-virus software so that you won't be infected. But, the new online banking Trojans bypass even up-to-date anti-virus programs 77% of the time.
"There is an online banking Trojan out there that is bypassing up-to-date anti-virus programs as much as 77% of the time, according to security company Trusteer."PDF
From the report: Page 6, first paragraph: The effectiveness of an up to
date anti virus against Zeus is thus not 100%, not 90%, not even 50% -
it’s just 23%.
I'm not making this stuff up folks. It's the Typing and it's the Browser. They don't mix. It's got to be done "inside the box." That said, "For advice on eliminating the threats to online banking fraud, stay tuned to the PIN Payments News Blog!"
Again...I really don't think I'm being too simplistic when I point out the reality of the situation: As long as online banking customers continue to "type" their log-in details into a box, the only swiping going on will be on the part of the Hackers. So the question begs to be asked. If your online banking details are going to be swiped anyway, shouldn't online banking customers be the one's doing the swiping?
How's that for a "strong" coordinated approach to prevent more people from falling victim to computer crime?